Description: The Society of Actuaries, in conjunction with the Canadian Institute of Actuaries, recently commissioned a research project on Benefits at Risk and Jean-Francois Begin is conducting the research. Prepare to review Professor Begin's findings and review other work related to determining capital adequacy for benefits payable in non-insured pension payout schemes. This session will be of interest to actuaries working with non-insured defined contribution solutions and to actuaries working in trusteed defined benefit pension plans.

Description: With the persistent low interest rate environment, fast pace of regulatory changes and the size of insurers' back-books relative to new business, it is no surprise that insurers have become increasingly focused on their management of non-guaranteed elements ('NGE') for life and annuity business. Come explore the opportunities and challenges offered by NGE management, with consideration for market trends, regulation, the new ASOP 2 and emerging case law.

Description: This data request is for a study focusing on surrender/lapse, withdrawal, living benefit utilization, annuitization, and premium deposit experiences. The study aims to provide detailed analysis and insights into fixed indexed annuity contract activities.

Description: This session is open to all, but targeted to pension actuaries looking to understand the mechanics of how PRT is priced by life insurance actuaries, as well as life insurance actuaries who wish to understand how the stream of expected benefit payments and Accrued Benefits Obligation is calculated by Retirement Actuaries. Pension Risk Transfer involves two distinct disciplines of the actuarial profession. To date, understanding the other side of Pension Risk Transfer has been limited. This session will attempt to clarify the mechanics of the other side of PRT and explain how an actuarial model consolidating the two separate sides can be built. Panelists will include a retirement consulting actuary who helps retirement plan sponsors bring their pension plans to market to purchase PRT, as well as an experienced life insurer who works to price PRT.

Description: This session will address the risk management, reserving and capital issues associated with index-linked annuities including financial reporting considerations for FIAs and RILAs, benefits of combining VA and RILA hedging and reserving under VM-21, current and future challenges with FIA reserving under VM-22, potential capital redundancy for FIAs, RILA interim values under AG 54, NAIC economic scenario reform, asset modeling, fund mapping and more!

Description: This session will review reinsurance fundamentals, risk assessment techniques, optimization strategies, and regulatory considerations through case studies and best practices. Attendees will gain insights into enhancing capital management, risk mitigation, and improving operating results, utilizing practical insights from both reinsurers and direct experience.

Description: This session will kick off the key National Association of Insurance Commissioners (NAIC) activities with a primary focus on updates to principle-based reserve valuations and appointed actuary topics. Hear insights into the current set of activities and initiatives being considered and/or adopted by the NAIC Life Actuarial Task Force (LATF) and the NAIC Risk Based Capital Working Group as well as Actuarial Standards Board. In addition, other actuarial practice issues and other appointed actuary and opinion topics relevant to life insurance, variable annuities and fixed annuities will be discussed. By the end of the session, attendees will understand what changes are being made to reserves, RBC, PBR and actuarial standards and related topics, and the anticipated timing of such emerging changes.

Description: Given the rise in interest rates during 2022, join an insightful discussion on the implications of increasing rates on fixed annuity (FA) and fixed index annuity (FIA) business by looking at industry experience for FA and FIA products for 2022 compared to earlier years. Additionally, you will walk through partial withdrawals, guaranteed lifetime withdrawal benefit (GLWB) utilization, mortality and what to expect as interest rate volatility continues.

Description: This will be an engaging and interactive session that will begin with a game show to level set basic knowledge of LDTI. Next, you will have an opportunity to ask the experts in-depth questions about anything related to LDTI. Finally, we will invite the 2023 adopters to share their experiences with the 2025 adopters. The exact content will be driven by participants but is expected to include MRB valuation approaches, LFPB reinsurance topics, DPL, DAC, and disclosure topics. At the end of the session, participants will understand different perspectives from industry experts and peers on the many facets of LDTI.

Description: Statutory and GAAP metrics are useful for external audiences such as regulators and investors since they provide a consistent framework for viewing and comparing multiple companies at a point in time. However, their uses are more limited for managers who require more real-time information in making strategic decisions. Many insurers are developing internal metrics such as Value of New Business (VNB) for better profitability insights at the point of sale, to understand how new business profitability changes over time and to allow for quicker decision making. By leveraging existing models and reporting processes, insurers can reduce the additional effort involved in applying VNB toward applications such as pricing, capital allocation and risk management. Find out more about key considerations for developing and using VNB.